Marks and Spencer told just-food that it is unwilling to comment on reports that the retailer has asked its advisor, Citigroup, to look into the benefits of acquiring the UK’s third largest supermarket chain, Sainsbury’s.
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Sainsbury’s became the focus of bidding speculation after a group of private equity firms – CVC, Kohlberg Kravis Roberts and Blackstone Group – said they were mulling the possibility of a takeover. Following the news, other private equity groups such as Texas Pacific Group signalled their interest.
M&S is the only trade group rumoured to be considering making a move for the supermarket operator.
